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Pfizer, BioNTech partner with South African drug maker to make and distribute COVID-19 shot in Africa

Economy, Finance

Shares of Pfizer Inc. gained 0.5% in premarket trading on Wednesday after the company and its COVID-19 partner BioNTech SE signed a deal with a South African drug maker to produce and distribute their shot in the African Union. BioNTech’s stock was up 0.3%. The company, The Biovac Institute Ltd, is based in Cape Town; it also manufactures and distributes Pfizer’s Prevenar 13 pneumococcal vaccine. (That vaccine is referred to as Prevnar 13 in the U.S.) Biovac’s plant is expected to produce 100 million doses annually once it is up and running. So far this year, Pfizer’s stock is up 11.5%, BioNTech shares have soared 200.7%, and the broader S&P 500 has gained 15.1.%.

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